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Maximus MMS Q3 2025 earnings

Reported August 7, 2025 · Before market open

Revenue$1.3BBeat by $7.3M
EPS$2.16Beat by $0.77
Revenue estimate$1.3B
EPS estimate$1.39

Next report

Nov 19, 2026 (in 2 months)
Revenue estimate$1.3B
EPS estimate$1.88

Financials

Q3 2025

Income statement

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Revenue$1.3B+2.5%
Gross profit$359.5M+8.2%
Operating income$165.7M+16.9%
Net income$106.0M+18.1%
EPS (diluted)$1.86+27.4%

Balance sheet

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Cash & equivalents$59.8M-41.8%
Total debt$1.8B+38.0%
Total equity$1.8B-2.5%
Total assets$4.5B+11.6%

Cash flow

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Operating cash flow-$182.7M-192%
CapEx$15.5M-55.4%
Free cash flow-$198.2M-220%

Valuation & ratios

Valuation

as of 06/30/25
See full
Market cap$3.92B-25.6%
Enterprise value$5.64B-12.6%
P/E12.4×-5.5×
P/S0.7×-0.3×

Profitability

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Gross margin24%+0.3pp
Operating margin9.5%+0.5pp
Net margin5.8%+0.2pp
FCF margin-2.6%-9.9pp

Returns & leverage

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Return on equity17.6%+0.6pp
Debt / equity1×+0.3×
Current ratio2.3×+0.7×

Segments

By product

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Program Operations$627.0M+3.7%
Clinical Services$560.4M+10.7%
Employment & Other$81.9M-26.9%
Technology Solutions$79.2M-14.1%

By segment

See full
U.S. Services$439.8M-6.9%
Outside the U.S.$147.4M-7.5%

FAQ

When did Maximus report Q3 2025 earnings?
Maximus (MMS) reported Q3 2025 earnings on August 7, 2025 before market open.
What were Maximus's Q3 2025 revenue and EPS?
Maximus reported revenue of $1.3B and eps of $2.16 for Q3 2025.
Did Maximus beat estimates in Q3 2025?
Revenue beat the consensus estimate of $1.3B by $7.3M. EPS beat the consensus estimate of $1.39 by $0.77.
How did Maximus's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 2.5% from $1.3B a year earlier and eps grew 47.9% from $1.46.
Where can I find Maximus's Q3 2025 SEC filings?
You can read the 8-K earnings release (0001032220-25-000038) and the 10-Q periodic report (0001032220-25-000040) directly on SEC EDGAR. The filing index links above go to sec.gov.